30 BTC were traded in Venezuela last week only using LocalBitcoin

Hi guys, just posting this update as I always do, maybe in a few year this will be an archive!

This week we have a 4 BTC drop from last week.

One BTC trades around 160,000 Bs. (Bolivares).

I know it might not be a big amount, but considering minimum wage is 16 USD monthly and average is 100 USD, I think it's important.

Back in 2018 and 2019 there were weeks with over 1,000 BTC!

Why LocalBitcoin? It's an old webside not used much anymore, but it has an api that allows you see the total traded amount.

Binance is king in P2P (allowing to use bolivares to get crypto) but they don't make their stats public! Others are AirTM and Reserve.

People use crypto to send remittances to their relatives, savings (staying away from Bolivares), to purchase things (some stores accept crypto directly) and MINERS, a lot of miners here (even when in theory is legal, it's risky) even after the merge GPU mining is still profitable here because electricity is free!

Moons have been a lifesaver for me (and before someone accuses me of moon farming, I have been posting this WAY before moons were a thing), sadly because one of the latest CCIP I dont get so much as before (I NEED to exchange them)!

Have a nice sunday.

Crypto has helped a lot here in the country!

https://www.reuters.com/technology/venezuelas-economy-regresses-crypto-fills-gaps-2021-06-22/

https://en.wikipedia.org/wiki/Hyperinflation_in_Venezuela

https://coin.dance/volume/localbitcoins/VED/BTC

https://coin.dance/volume/localbitcoins/VED

https://www.caracaschronicles.com/2020/10/23/you-need-285-minimum-wages-in-venezuela-to-feed-your-family/

https://www.caracaschronicles.com/2022/04/21/is-venezuela-doing-better/

https://www.caracaschronicles.com/2022/04/20/the-bizarre-figures-of-venezuelas-economic-recovery/

https://localbitcoins.com/country/VE

https://www.bloomberg.com/features/2016-venezuela-cafe-con-leche-index/